Which of the Following Does Not Correctly Describe the Economic

question 57

Multiple Choice

Which of the following does not correctly describe the economic activities of Colbert?

• A)Reduction of internal tolls and customs barriers
• B)Reducing the size of the French military
• C)Establishment of state-sponsored trading companies
• D)Development of a favorable balance of payment
• E)Futuristic national economic planning

---

Definitions:

Machine-Hours

A measure of the amount of time a machine is operated, used in calculating manufacturing costs and efficiencies.

Cost Of Goods Manufactured

The total cost incurred by a company to produce goods within a specific period, including materials, labor, and overhead.

T-Accounts

A graphical representation used in accounting to depict the debit and credit sides of an account for easy visualization and calculation.

Cost Of Goods Sold

The direct costs attributed to the production of the goods sold by a company, including the cost of the materials and labor directly involved.